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President Donald Trump said Saturday that he gave TikTok’s deal his “blessing,” and “conceptually” approved the agreement, which would see TikTok partner with Oracle and Walmart to become a U.S. company, spun off from owner ByteDance.
TikTok said it was “pleased” that its proposal satisfied the Trump administration and detailed what the new U.S. company, would look like. Oracle will serve as the company’s “trusted technology partner” while working to develop a “commercial partnership” with retail giant Walmart.